Question
imes interest earned Berry Company reported the following on the company's income statement in two recent years: Current Year Prior Year Interest expense $353,000 $423,600
imes interest earned
Berry Company reported the following on the company's income statement in two recent years:
| Current Year | Prior Year | |||
| Interest expense | $353,000 | $423,600 | ||
| Income before income tax expense | 5,542,100 | 6,777,600 | ||
a. Determine the number of times interest charges were earned for current Year and prior Year. Round to one decimal place.
| Current Year | fill in the blank 1 |
| Prior Year | fill in the blank 2 |
b. Is the number of times interest charges are earned improving or declining?
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Financial Accounting Information For Decisions
Authors: Robert w Ingram, Thomas L Albright
6th Edition
9780324313413, 324672705, 324313411, 978-0324672701
